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Controlling shareholders of Brazilian infrastructure group CCR will renegotiate a mutual agreement in order to pave the way for them to sell a portion or even their full stake in the company.
Singapore sovereign wealth funds GIC and Temasek Holdings have emerged as potential buyers of the CCR shares, reported O Estado de S. Paulo newspaper without revealing its source.
Andrade Gutierrez and Camargo Corrêa – two of various companies embroiled in the Lava Jato corruption scandal – have seen a reduction in revenues in recent years and have embarked on aggressive asset sales programs in order to pay their debts.
CCR, which has a portfolio of concessions including metro lines, airports and highways, is also a target of authorities. Currently, the company is holding an internal investigation after it was accused of paying bribes to obtain advantages in highway contracts in Paraná state.